UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stake in Coterra Energy Inc. $CTRA

Key Points

• UBS AM increased its position in Coterra Energy Inc. by 10.3%, acquiring an additional 297,074 shares during the first quarter, bringing its total holdings to 3,183,663 shares valued at approximately $92 million.
• Fourteen analysts rate Coterra Energy as a Buy, with a consensus price target of $33.39, while Wells Fargo and Piper Sandler raised their price objectives to $33.00 and $39.00, respectively.
• Coterra Energy's latest earnings report revealed a net margin of 23.80% and revenue growth of 54.6% year-over-year, despite reporting a slight earnings miss of $0.48 EPS compared to the expected $0.50.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,183,663 shares of the company's stock after buying an additional 297,074 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.42% of Coterra Energy worth $92,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its position in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Coterra Energy during the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new position in Coterra Energy during the first quarter valued at $34,000. Finally, Investors Research Corp lifted its position in Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, July 1st. Piper Sandler lifted their target price on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Mizuho lowered their target price on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Finally, Wells Fargo & Company raised their price target on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and an average target price of $33.22.

Coterra Energy Price Performance

Shares of CTRA stock traded down $0.29 during trading hours on Thursday, hitting $24.09. The stock had a trading volume of 6,409,196 shares, compared to its average volume of 4,880,633. Coterra Energy Inc. has a one year low of $22.46 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock's 50-day moving average price is $24.08 and its two-hundred day moving average price is $25.25. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.34 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm posted $0.37 earnings per share. The company's revenue for the quarter was up 54.6% compared to the same quarter last year. Equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's payout ratio is 42.11%.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.